Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I'm trying to decide on this right now also. I have had both new and used. The used have both been fantastic. My current car was only one year old when I bought it. I have almost 300,000 miles (Toyota Corolla) and it's time to start fresh. I am torn and maybe now I am a bit superstitious since my last two have been used. I don't know.
Second dilemma is Toyota or Jeep. (I'm very loyal to Toyota...) I'm wanting maybe a RAV4 or a Jeep Renegade. Don't mean to hijack your post, but any recommendations anyone?
My last 3 vehicles have been at least 12+ years old when i bought them. Paid no more then $1,000 for them and put about $1,000 in work right away and drove them at least 4-7 years.
But I've been working on cars since around 1995 and i'm not afraid of working on a car like a large portion of society is. They get a flat tire and they go out and buy a new car.
3-4 year old used car
1-2 year old used car
or new car
I plan to drive it into the ground. Difficult to justify the extra cost of the new car although the warranty is appealing. OTOH many of the used cars being sold at reasonable prices are former rental cars.
Neither. 10+ years old in great condition is the way to go. You could buy 5 of those for the same price as one new car, so why buy new?
I have never met anyone who bought a new car, it just doesn't make any sense at all. Even my wealthy friends by gently used 20,000 or less
Pleased to meet you!
Sometimes it doesn't make sense to buy used, especially with more popular cars that hold their value well (like Jeep Wranglers).
My late father-in-law had a standing deal with the local Ford dealer. He bought (at least one) new car each year when the new models came out and traded it a year later. He was able to trade for $500 each year. He never had any maintenance costs, never had to dig deep into his pocket for a new car, as it was a set $500 each year, and he always had a new car to drive. This was 20 years ago, so the cost to trade would be higher now but not significantly so.
I went shopping for a used Prius last fall. Used ones, with several thousand miles on them, were priced nearly as high as new ones. Now, if I could have found a nearly new one with low miles at a significant savings over a new one, that would have been great, but I didn't want to waste days and dollars looking for one. The new one was cheap enough; interest was a little less on the new one, and normal maintenance (oil changes, tire rotations, etc.) are all free for the first 24k miles. I got the extended warranty good for 100k miles. Of the used ones I saw, none made sense over a new one. I'll drive it for 2-3 years and trade for a new one before the mileage gets too high. (I drive 30-35K per year.)
I've mostly bought new but not always. I've had good luck both ways. I also have USUALLY traded after 2-3 years -- mostly for sound financial reasons.
I always buy used. I really can't justify the cost of new car, as my dad told me, "everyone drives a used car." The fact that a car is a depreciating asset, means I want someone else to take the first big depreciation.
Also, I live in Colorado and the cost for the owner's tax and license is not a set fee. It is a sliding scale based on the car's value (MSRP) and age. A new car can cost $800 or more to license here. A 10 year old car pays about $100 to license.
I tend to go new. I've compared my lifecycle costs of the cars I've had over the years and new comes out cheaper. Seems today, at least around here, used are pretty much run into the ground, yet everyone seems to think they should get 80% of new price for a car with 180,000 miles on it.
Former rental cars are not necessarily lemons, especially from Enterprise or Hertz. They have mechanics inspect them thoroughly over and over, and also offer a warranty.
Ten years ago, I would have agreed with you. Back then, rental car agencies were generally owned by auto manufacturers who would have buy back programs after 18-30k miles. Over the years, I have bought a couple.
In the past two years, I have encountered rental cars with a lot of issues. I recently rented a car in AZ that had not been serviced with an oil change in 5k miles ... and I was heading out on a 6k mile rental. I have had several cars that have had 50-70k miles on them and were showing more than the usual wear.
I do not think that the rental car agencies do a very good job in maintaining their vehicles.
3-4 year old used car
1-2 year old used car
or new car
I plan to drive it into the ground. Difficult to justify the extra cost of the new car although the warranty is appealing. OTOH many of the used cars being sold at reasonable prices are former rental cars.
I couple of friends and I have been discussing this for 20+ years. It has always been my contention that you should buy a car that is 3 years old and 50k miles and drive it until the end of its life (usually around 150k). My friend argues that it is better to buy new and keep it until the repairs get too bad.
We have kept the spreadsheets and discussed it ad nauseam. What we have decided is that the difference in expense, overall, is minimal.
If I am not saving and significant money in the long run, I decided that I would start buying new.
In recent years, the cost of good used cars has skyrocketed which even bolsters buying new.
YMMV. I might note that all friends pay cash. If you need to finance, that might make a difference.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Pleased to meet you! 
